The Chinese ferro-silicon market rebounded in the week ended Friday November 23 when low stock levels at smelters met with renewed demand from consumers, while the European market is in a holding pattern while waiting to settle longer-term delivery settlements with steel mills.
China sees renewed consumer demand amid reported lower ferro-silicon stock levels Europe eyes first-quarter settlements for direction China market bounces amid renewed demand Domestic Chinese ferro-silicon prices increased last week after cargoes were actively traded, reversing weeks of slow activity and declining prices. Fastmarkets MB's Chinese ferro-silicon ex-works price, basis 75% Si increased by 200-300 yuan to 6,800-7,000 yuan ($978.80-1,007.59) per tonne on Friday. According to one major ferro-silicon producer, the stronger domestic market was due mostly to low stock levels at ferro-silicon refineries. "Spot supply is tight and some consumers have started to stockpile more cargoes for production in the Christmas and New Year holidays," another producer said, adding that a domestic price rally in downstream magnesium prices has cemented increased ferro-silicon prices. "The consensus now is that December steel mill tender prices will be higher than in November," he said. Downstream magnesium, one of the biggest consumers...